On July 22 (Beijing Time), Morgan Stanley rose 3.02% in regular trading, trading at $217.195/share, with turnover of $421 million.
On the news front, RBC Capital Markets raised its price target on Morgan Stanley to $243 from $207, maintaining a Sector Perform rating. RBC highlighted the company's strong excess capital position, projecting that Morgan Stanley could return up to 100% of its earnings to shareholders through share repurchases and increased dividends following a robust second quarter.
The upgrade follows Morgan Stanley's Q2 results that significantly exceeded expectations. Net revenue reached $21.35 billion, up 27% year-over-year and well above the consensus estimate of $19.67 billion. Earnings per share came in at $3.46, surging 62% from $2.13 a year earlier and beating the analyst estimate of $2.89. Equity trading revenue hit a record high with a 69% year-over-year increase, while wealth management revenue rose 14% to $8.86 billion. Additionally, the firm has emerged as the top underwriter of AI-related bond deals, with capital markets fees reaching $2.3 billion in the first half.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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